Tejas Networks Limited to Issue IPO Today

Tejas Networks Limited, a telecom equipment manufacturer has raised around Rs 349.5 crore from the cornerstone or anchor investors, reported a leading national news agency.
 
On Wednesday, June 14, 2017, the company proposes to open an initial public offering of equity shares of face value of Rs 10 each for cash comprising of a fresh issue of equity shares aggregating up to Rs 4,500 million and an offer for sale of up to 12,711,605 equity shares by selling stakes of existing shareholders. The bid or offer will close on June 16, 2017.

The equity shares offered through the RHP are proposed to be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).
 
The price band for the offer is fixed from Rs. 250 to Rs. 257 per equity share. Bids can be made for a minimum of 55 equity shares and in the multiples of 55 equity shares thereafter.Citigroup Global Markets India Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the offer.
 
The company may, in consultation with the BRLMs, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended (SEBI ICDR Regulations). The anchor investor bid/ offer period shall be one working day prior to the bid/offer opening date; i.e., Tuesday, June 13, 2017.